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Bitcoin ETFs Surpass Silver ETFs in AUM within One Week of Trading

Bitcoin ETFs Surpass Silver ETFs in AUM within One Week of Trading

In just one week of trading, Bitcoin ETFs have surpassed Silver ETFs in the U.S. in terms of assets under management (AUM). This shift is attributed to the significant market interest and pent-up demand for Bitcoin.

Previously, Silver held the second position in AUM among single commodity ETFs in the U.S., but Bitcoin has now taken the lead. Spot Bitcoin ETF funds, including the conversion of Grayscale’s GBTC trust, currently hold approximately 647,651 bitcoins, totaling $27.5 billion in AUM.

Top five commodity AUM in the U.S. Image: ETF Database.

According to Coinglass, the Grayscale Bitcoin Trust ETF (GBTC) alone holds around 619,000 bitcoins. As a result, Silver now ranks third in AUM within the single commodity ETF asset class, with around $11.5 billion distributed across five ETFs. In comparison, U.S. funds holding gold have a combined AUM of $96.3 billion across 19 ETFs, maintaining their lead in this category.

The Grayscale Bitcoin Trust singularly possesses 592,098 bitcoins, a value surpassing that of all silver ETFs listed in the United States.

On Thursday, the combined trading volume for the listed Bitcoin ETFs exceeded $12 billion, with Grayscale, BlackRock, and Fidelity leading the way in terms of product contributions.

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